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Judith Taylor Designs added this to How to Pick a New Kitchen Faucet

Handle OptionsSingle-handled faucets. A single-handled faucet rotates directionally, usually providing the ability to regulate flow with an up-and-down motion and temperature with a side-to-side motion.Pros: Along with the advantage of requiring only one hole in your countertop, these are really convenient for when you have only one hand free. They often feature high arching pro-style designs that easily accommodate large pots and vessels in the sink.Cons: Temperature adjustment is less precise than with a two-handled faucet.